Paradise almost lost: Maldives seek to buy a new homeland

The Maldives will begin to divert a portion of the country’s billion-dollar annual tourist revenue into buying a new homeland – as an insurance policy against climate change that threatens to turn the 300,000 islanders into environmental refugees, the country’s first democratically elected president has told the Guardian.

Mohamed Nasheed, who takes power officially tomorrow in the island’s capital, Male, said the chain of 1,200 island and coral atolls dotted 500 miles from the tip of India is likely to disappear under the waves if the current pace of climate change continues to raise sea levels.